The man who trades freedom for security does not deserve nor will he ever receive either. – Benjamin Franklin
As I’ve said here:
– Clif High-Chaos Starts Middle of March (Video):
“If his webbot was unable to detect that Trump, just like Killary Rotten Clinton, is a Rothschild puppet, then it is (almost) completely worthless in predicting anything.”
…
https://www.youtube.com/watch?v=JEYFsxfmnmo
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FYI.
With or without Donald Trump, … this is the Greatest Depression.
– Paul Singer: “Donald Trump Will Cause A Widespread Global Depression”:
…
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https://www.youtube.com/watch?v=5e1ImGC3ojY
Jun 10, 2016
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https://www.youtube.com/watch?v=W0lukSy4S10
Expert economist Peter Schiff thinks the coming collapse will be far worse than the Great Depression and you need to be prepared.
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– Something Big That Always Happens Right Before The Official Start Of A Recession Has Just Happened:
What you are about to see is major confirmation that a new economic downturn has already begun. Last Friday, the government released the worst jobs report in six years, and that has a lot of people really freaked out. But when you really start digging into those numbers, you quickly find that things are even worse than most analysts are suggesting. In particular, the number of temporary jobs in the United States has started to decline significantly after peaking last December. Why this is so important is because the number of temporary jobs started to decline precipitously right before the last two recessions as well.
You see, when economic conditions start to change, temporary workers are often affected before anyone else is. Temporary workers are easier to hire than other types of workers, and they are also easier to fire.
This is the Greatest Depression.
– Worst Economy Since the Great Depression:
Many economic indicators are at their worst since the Great Depression …
For example, we noted in 2009 that more Americans will be unemployed than during the Great Depression.
We noted in 2010:
The following experts have – at some point during the last 2 years – said that the economic crisis could be worse than the Great Depression:
Flashback:
– Quotes from the Great Depression
– Comparing the 1930s and Today:
You’ve heard the axiom “History repeats itself.” It does, but never in exactly the same way. To apply the lessons of the past, we must understand the differences of the present.
During the American Revolution, the British came prepared to fight a successful war—but against a European army. Their formations, which gave them devastating firepower, and their red coats, which emphasized their numbers, proved the exact opposite of the tactics needed to fight a guerrilla war.
Read moreComparing 1930s And Today: “The Greater Depression Has Started”
Former elite puppet finance minister …
And as I’ve said many, many times: This is the Greatest Depression.
– Former Finance Minister Compares Current Financial Crisis to Great Depression:
Greece’s financial crisis, unprecedented in scope, reached a pivotal moment last summer when the Greek people voted overwhelmingly against further austerity programs — ostensibly imposed to help the country pay back enormous debt. Overseeing the matter was Syriza Party Finance Minister Yanis Varoufakis — a staunch opponent of the crippling austerity measures that had effected a stranglehold on the country’s economy.
Greece’s debt to the so-called Troika — the International Monetary Fund, European Commission, and European Central Bank — turned out not to be the true reason for the proposed austerity. As Varoufakis discovered, the Troika actually, if somewhat covertly, intended to decimate Greek organized labor and the country’s modest social safety net. After the Greek populace stunned the world with its ‘no’ vote, Varoufakis sensed the coming accession by Syriza to implement the plans — and he hastily and quietly resigned his post.
Read moreFormer Finance Minister Compares Current Financial Crisis to Great Depression
FYI.
https://www.youtube.com/watch?v=LmRtt-_ol4c
Sep 12, 2015
Ron Paul speaks on the upcoming financial collapse that will be far worse than the 2008 collapse. It’s not a matter of if but when it will happen.
– Guess What Happened The Last Time The Price Of Oil Plunged Below 38 Dollars A Barrel?:
On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years. The last time the price of oil was this low, the global financial system was melting down and the U.S. economy was experiencing the worst recession that it had seen since the Great Depression of the 1930s. As I write this article, the price of U.S. oil is sitting at $37.65. For months, I have been warning that the crash in the price of oil would be extremely deflationary and would have severe consequences for the global economy. Nations such as Japan, Canada, Brazil and Russia have already plunged into recession, and more than half of all major global stock market indexes are down at least 10 percent year to date. The first major global financial crisis since 2009 has begun, and things are only going to get worse as we head into 2016.
Read moreGuess What Happened The Last Time The Price Of Oil Plunged Below 38 Dollars A Barrel?
… the Greatest Depression.
– Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression (ZeroHedge, July 22, 2015):
There has now been an unprecedented 31 consecutive months of CAT retail sales declines. This compares to “only” 19 during the near systemic collapse in 2008. In other words, if global demand for heavy industrial machinery, as opposed to unemployed millennials’ demands for $0.99 Apple apps, is any indication of the true underlying economy, forget recession: the world is now in a second great depression which is getting worse by the month.
…
– Similarities Between China’s Stock Market Crash and 1929 Are Eerie (David Stockman’S Contra Corner, July 10, 2015):
By David Zeiler at Money Morning
For students of history, the China stock market crash looks eerily familiar.
It’s playing out much like the Wall Street stock market crash of 1929.
In case you’ve been distracted by such things as the Greek debt crisis and a bizarre glitch that shut down the New York Stock Exchange for more than three hours Wednesday, the Chinese stock market has been in a free fall lately.
Read moreSimilarities Between China’s Stock Market Crash And 1929 Are Eerie
– The Texas Job Recession Is Now Literally “Off The Chart” (ZeroHedge, May 7, 2015):
The paradoxical, utterly nonsensical “data” releases continue.
On one hand, the government’s Department of Labor reported earlier today that in the past week just 265K people were laid off: the lowest number since early 2000. On the other, private data aggregator Challenger reported that in April, there were a whopping 61,582 job cuts, a 68% surge from March, and up 53% from a year ago. This was the highest monthly total since May 2012 and the highest April total since 2009!
Read moreThe Texas Job Recession Is Now Literally “Off The Chart”
Now that sums up the current situation nicely.
From the article:
“This is not going to be a 1921-style two-year recession that we bounce back from after a little bit of pain and unpleasantness. After a 50-year global economic boon involving what is now a $59 trillion expansion of credit in 50 years, this isn’t going to be a one or two-year hard recession. This is going to be a multi-decade global depression and I’m not sure that anyone alive today would live long enough to see the recovery. I mean, it’s like Rome: when Rome fell, there was a recovery, but it was 1,000 years later. This is the kind of depression we’re looking at if we allow this $59 trillion credit bubble of ours to implode.”
– Richard Duncan: The Real Risk Of A Coming Multi-Decade Global Depression (Peak Prosperity, April 5, 2015):
Richard Duncan, author of The Dollar Crisis and The New Depression: The Breakdown Of The Paper Money Economy, isn’t mincing words about the risks he sees ahead for the world economy.
Essentially, he sees the past 50 years of economic prosperity fueled by globalization and easy credit in serious danger of being unwound, as the doomed monetary policies currently being pursued by the word’s central banks result in a massive multi-decade depression that spans the globe.
The first version of The Dollar Crisis, the hardback, came out in 2003, so I wrote it in 2002. And at that time, the dollar against gold was $300. So the dollar has lost more than 75% of its value since The Dollar Crisis was written, and I don’t think it’s going to stop here. I expect it to continue to lose value over the years and decades ahead.
But what we’re seeing is that the real theme of The Dollar Crisis was that the post-Bretton Woods international monetary system was fundamentally flawed because it couldn’t prevent trade imbalances between countries. And the US had developed an enormous trade deficit with the rest of the world and this blew the trade surplus countries like Japan and China into bubbles. And then, the dollars boomeranged back into the United States and blew it into a bubble, as well. I didn’t know when the housing bubble was going to pop in the US but I knew it would. And I wrote in The Dollar Crisis that when it did, we would have a severe global economic recession/depression that would involve a systemic banking sector crisis in the United States and necessitate trillion-dollar budget deficits and unorthodox monetary policy to prevent a Great Depression from occurring.
Read moreRichard Duncan: The Real Risk Of A Coming MULTI-DECADE GLOBAL DEPRESSION (Video)
– Washington Post: Europe Is Stuck In a “Greater Depression” (Washington’s Blog, Aug 15, 2014):
“It’s a Little Misleading to JUST Call This a Depression. It’s WORSE than That”
The Washington Post’s Wonkblog reports:
Europe hasn’t recovered, because it hasn’t let itself. Too much fiscal austerity and too little monetary stimulus have, instead, put it more than halfway to a lost decade that’s already worse than the 1930s.
It’s a greater depression.
Read moreWashington Post: Europe Is Stuck In a “Greater Depression”
– The Delusion Of Perpetual Motion; Bob Shiller Warns “I’m Definitely Concerned” (ZeroHedge, June 29, 2014):
“I am definitely concerned. When was [the cyclically adjusted P/E ratio or CAPE] higher than it is now? I can tell you: 1929, 2000 and 2007;” warned Bob Shiller this week, adding that “it’s likely to turn down again, just like it did the last two times.”
As John Hussman explains,The central thesis among investors at present is that they are “forced” to hold stocks, given the alternative of zero short-term interest rates and long-term interest rates well below the level of recent decades (though yields were regularly at or below current levels prior to the 1960s, which didn’t stop equities from being regularly priced to achieve long-term returns well above 10% annually). The corollary is that investors seem to believe that as long as interest rates are held near zero, stocks will continue to advance at a positive or even average or above-average rate.
Read moreThe Delusion Of Perpetual Motion; Bob Shiller Warns ‘I’m Definitely Concerned’
Flashback:
– Quotes from the Great Depression:
September 1929
“There is no cause to worry. The high tide of prosperity will continue.” — Andrew W. Mellon, Secretary of the Treasury.
– They Denied That We Were In A Depression In 1933 And They Are Doing It Again In 2013 (Economic Collapse, Sep 12, 2013):
The more things change, the more things stay the same. The Great Depression actually started in 1929, but as you will see below, as late as 1933 the Associated Press was still pumping out lots of news stories with optimistic economic headlines and many Americans still did not believe that we were actually in a depression. And of course we are experiencing a very similar thing today. The United States is in the worst financial shape that it has ever been in, our economic infrastructure is being systematically gutted, and poverty is absolutely exploding. Since the stock market crash of 2008, the Federal Reserve has been wildly printing money and the federal government has been running trillion dollar deficits in a desperate attempt to stabilize things, but in the process they have made our long-term economic problems far worse. It would be hard to overstate how dire our situation is, and yet the mainstream media continues to assure us that everything is just fine and that happy days are here again.
As I have already noted, the mainstream media was doing the exact same thing back during the days of the Great Depression. The following are actual Associated Press headlines from 1933:
Read moreThey Denied That We Were In A Depression In 1933 And They Are Doing It Again In 2013
– Worldwide Unemployment Crisis: There Are 93 Million Unemployed Workers In G20 Nations (Economic Collapse, July 19, 2013):
Did you know that the total number of unemployed workers in G20 counties is now up to 93 million and that it is increasing with each passing day? You see, the truth is that the United States is not the only one dealing with a systemic unemployment crisis. This is literally happening all over the planet. So what is causing this crisis? Is there any hope that it will be turned around? Well, unfortunately there are several long-term trends that have been developing for decades that have played a major role in bringing us to this point. First of all, the giant corporations that now totally dominate the global economy have figured out that they can make a lot more money by replacing expensive workers that live in major industrialized nations with workers that live in nations where it is legal to pay slave labor wages. So it isn’t really a huge mystery why there is such a huge problem with unemployment in the western world. If you were running a giant corporation, why would you want to hire workers that will cost you 10 to 20 times as much as other workers? A worker is a worker, and over the past decade we have seen a massive movement of jobs to countries where labor is cheaper. In addition, large corporations are also trying to completely eliminate as many jobs as they can by using technology. If a corporation can get a computer or a machine or a robot to do a task more cheaply than a human worker can do it, then why would that corporation want to continue to rely on human labor? And of course we have seen an overall weakening of the economies of the western world in recent years as well. This has been particularly true in the United States. As these long-term trends intensify, the worldwide unemployment crisis is going to get even worse.
In fact, the director general of the International Labor Organization is fully convinced that unemployment is going to continue to rise in G20 nations. Just check out what he told CNBC on Friday…
Read moreWorldwide Unemployment Crisis: 93 Million Unemployed Workers In G20 Nations
– A Nightmare Scenario (Economic Collapse, July 17, 2013):
Most people have no idea that the U.S. financial system is on the brink of utter disaster. If interest rates continue to rise rapidly, the U.S. economy is going to be facing an economic crisis far greater than the one that erupted back in 2008. At this point, the economic paradigm that the Federal Reserve has constructed only works if interest rates remain super low. If they rise, everything falls apart. Much higher interest rates would mean crippling interest payments on the national debt, much higher borrowing costs for state and local governments, trillions of dollars of losses for bond investors, another devastating real estate crash and the possibility of a multi-trillion dollar derivatives meltdown. Everything depends on interest rates staying low. Unfortunately for the Fed, it only has a certain amount of control over long-term interest rates, and that control appears to be slipping. The yield on 10 year U.S. Treasuries has soared in recent weeks. So have mortgage rates. Fortunately, rates have leveled off for the moment, but if they resume their upward march we could be dealing with a nightmare scenario very, very quickly.
In particular, the yield on 10 year U.S. Treasuries is a very important number to watch. So much else in our financial system depends on that number as CNN recently explained…
– 19 Reasons To Be Deeply Concerned About The Global Economy As We Enter The 2nd Half Of 2013 (Economic Collapse, July 3, 2013):
Is the global economic downturn going to accelerate as we roll into the second half of this year? There is turmoil in the Middle East, we are seeing things happen in the bond markets that we have not seen happen in more than 30 years, and much of Europe has already plunged into a full-blown economic depression. Sadly, most Americans will never understand what is happening until financial disaster strikes them personally. As long as they can go to work during the day and eat frozen pizza and watch reality television at night, most of them will consider everything to be just fine. Unfortunately, the truth is that everything is not fine. The world is becoming increasingly unstable, we are living in the terminal phase of the greatest debt bubble in the history of the planet and the global financial system is even more vulnerable than it was back in 2008. Unfortunately, most people seem to only have a 48 hour attention span at best these days. They don’t have the patience to watch long-term trends develop. And the coming economic collapse is not going to happen all at once. Rather, it is like watching a very, very slow-motion train wreck happen. The coming economic nightmare is going to unfold over a number of years. Yes, there will be moments of great panic, but mostly it will be a steady decline into economic oblivion. And there are a lot of indications that the second half of this year is not going to be as good as the first half was.
The following are 19 reasons to be deeply concerned about the global economy as we head into the second half of 2013…
Read more19 Reasons To Be Deeply Concerned About The Global Economy As We Enter The 2nd Half Of 2013
– 20 Signs That The Next Great Economic Depression Has Already Started In Europe (Economic Collapse, April 29, 2013):
The next Great Depression is already happening – it just hasn’t reached the United States yet. Things in Europe just continue to get worse and worse, and yet most people in the United States still don’t get it. All the time I have people ask me when the “economic collapse” is going to happen. Well, for ages I have been warning that the next major wave of the ongoing economic collapse would begin in Europe, and that is exactly what is happening. In fact, both Greece and Spain already have levels of unemployment that are greater than anything the U.S. experienced during the Great Depression of the 1930s. Pay close attention to what is happening over there, because it is coming here too. You see, the truth is that Europe is a lot like the United States. We are both drowning in unprecedented levels of debt, and we both have overleveraged banking systems that resemble a house of cards. The reason why the U.S. does not look like Europe yet is because we have thrown all caution to the wind. The Federal Reserve is printing money as if there is no tomorrow and the U.S. government is savagely destroying the future that our children and our grandchildren were supposed to have by stealing more than 100 million dollars from them every single hour of every single day. We have gone “all in” on kicking the can down the road even though it means destroying the future of America. But the alternative scares the living daylights out of our politicians. When nations such as Greece, Spain, Portugal and Italy tried to slow down the rate at which their debts were rising, the results were absolutely devastating. A full-blown economic depression is raging across southern Europe and it is rapidly spreading into northern Europe. Eventually it will spread to the rest of the globe as well.
The following are 20 signs that the next Great Depression has already started in Europe…
Read more20 Signs That The Next Great Economic Depression Has Already Started In Europe
… and the ‘Greatest Depression’ will get much worse.
– Europe’s Scariest Chart – Update (ZeroHedge, Dec 6, 2012):
Despite Draghi’s insistence that ‘significant’ progress has been made, that the ECB’s efforts have not been “killer medicine”, that stocks are higher and spreads are lower (implying the ECB “has already done much that is needed”), and how optimistically-biased cherry-picked economic surveys are positive despite weak economic projections; the fact of the matter is that youth unemployment is only getting worse – much worse. Euro-zone youth unemployment is at a record 23.9% but Spain and Italy saw the biggest jumps (to 55.9% and 36.5% respectively). Greece remains the worst at over 56% based on last data, while Germany rests at 8.1%.
